Epam Sys Inc Stock Price, News & Analysis

EPAM Systems has announced the acquisition of Ricston Ltd., a provider of software integration and connectivity solutions, to enhance its consulting and engineering services in API and microservices management. This strategic move is aimed at bolstering EPAM's capabilities within the Salesforce ecosystem and meeting increasing client demand for modern architectures. Ricston, recognized for its expertise in MuleSoft, will help EPAM's customers accelerate their digital transformation and competitiveness.

On August 27, 2020, EPAM Systems (NYSE: EPAM) announced that its COVID Resistance App received the 2020 Pandemic Tech Innovation Award from TMC Labs. This award recognizes software and solutions aiding in pandemic management. The COVID Resistance mobile app features an anonymous digital health identity, real-time tracking, and exposure notifications, ensuring GDPR and HIPAA compliance. Balazs Fejes, EVP at EPAM, expressed gratitude for the recognition, highlighting the team's swift efforts to help users manage COVID-19 risks during the ongoing pandemic.

EPAM Systems reported second quarter 2020 revenues of $632.4 million, up 14.6% year-over-year, with GAAP income from operations rising to $83.4 million, a 14.5% increase. Non-GAAP income also climbed, reaching $108.2 million, marking a 16.9% growth. The diluted EPS for the quarter was $1.14, an 11.8% rise compared to the previous year. Cash flow from operations for the first half of 2020 stood at $209.4 million. For Q3 2020, EPAM expects revenues between $633 million and $643 million, showing a projected 8.5% growth rate.

EPAM Systems, Inc. (NYSE: EPAM) will host a conference call on August 6, 2020, at 8:00 a.m. ET to discuss its Q2 2020 financial results. A press release with detailed results will be issued prior to the call. Investors can access the call via the Investor Relations website or by dialing +1 (844) 707-0662. A replay will be available until August 13, 2020.

EPAM has collaborated with UNICEF ECARO to enhance the 'HealthBuddy COVID-19' chatbot app, aimed at providing reliable COVID-19 information to children, families, and communities in Europe and Central Asia. This new platform combines features from EPAM's COVID Resistance app and UNICEF's existing chatbot, promoting protective behaviors and accurate messaging against misinformation. The app, available in multiple languages, will support public health institutions and citizens during the pandemic and future emergencies. EPAM is committed to providing technical support through December 31, 2021.

EPAM Systems, a leader in digital platform engineering, will host a live webinar on July 23, 2020, to discuss the evolving customer experience in consumer banking. The session will feature experts from EPAM and is aimed at executives in finance and design. Attendees will gain insights into the shifts in fintech and banking, addressing changing customer expectations and the need for adaptation in the industry. The event will be held online from 9:00 to 9:45 AM BST.

On July 1, 2020, EPAM Systems, along with commercetools and Contentstack, announced a new headless commerce solution tailored for Dawn Foods, a global bakery manufacturer. This innovative B2B e-commerce platform allows retail bakeries easy access to an extensive product catalog, featuring a streamlined ordering process. Built on a cloud-native, microservices-based architecture, the solution enhances user experience across devices. This digital transformation aims to simplify operations for bakeries, especially during the pandemic, and represents the first phase of Dawn Foods' digital journey.

EPAM Systems (NYSE: EPAM) has been recognized as a leader in the IDC MarketScape: Worldwide Cloud Business Analytics Services 2020 Vendor Assessment. The company's strengths lie in its innovative strategies, client adoption, and R&D efforts. EPAM offers comprehensive data and analytics services, employing a 'cloud first' approach to help organizations maximize the value of their data. The report emphasizes EPAM's technical expertise, high-quality staff, and robust integration capabilities, making it a valuable partner for businesses seeking cloud analytics services.

EPAM Systems, Inc. (NYSE: EPAM) has been recognized as a leader in the Forrester Wave™: Specialized Insights Service Providers, Q2 2020 report. This distinction highlights EPAM's strengths in product engineering and its ability to integrate data products into insights services. The report commends EPAM for its robust analytics accelerators and consulting programs, which contribute to effective data-driven solutions. Customer references indicate EPAM is ahead of peers in building talent and domain understanding. EPAM's continuous innovation since its inception in 1993 further solidifies its market presence.